Top Ten Investments as at 30 June 2005

ABERFORTH SMALLER COMPANIES TRUST plc


The Board of Aberforth Smaller Companies Trust plc ("the Company") confirms
that, as at 30 June 2005, the top ten investments ranked by market value of
the Company's total investable assets were as follows: -


Company               Value (£) Weight (%) Accumulated (%)

Paladin Resources    22,781,558       3.8%            3.8%
Johnson Service      16,492,580       2.7%            6.5%
Group
Greggs               15,859,279       2.6%            9.1%
ITE Group            14,046,060       2.3%           11.4%
BSS Group            13,881,195       2.3%           13.7%
Holidaybreak         13,701,422       2.3%           16.0%
RPC Group            13,029,250       2.2%           18.2%
Interserve           12,373,725       2.1%           20.3%
Carillion            11,404,029       1.9%           22.2%
Shanks Group         10,661,127       1.8%           24.0%


Contact for enquiries
David Holland
Aberforth Partners
0131 220 0733

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